Published: Thursday, April 11, 2013 at 1:00 a.m.

Last Modified: Wednesday, April 10, 2013 at 10:00 p.m.

Foreclosure filings throughout Southwest Florida eased in the first quarter of this year, a sign lenders are being less aggressive in their rate of repossessions.

The lull in the first three months of 2013 comes after foreclosures regionwide rose last year, the result of mortgage delinquency cases that were refiled in the wake of a $25 billion settlement deal between banks and state governments.

Although an estimated number of potential foreclosures remains dangerously high, most analysts believe lenders now are intentionally holding back to ensure they do not flood the market with distressed properties -- a move that would cause prices to fall marketwide.

"We're seven years deep into this now, and the reality is this is all we can handle," said Marcus Vanzant, broker and owner of Marcus & Co. Realty, in Bradenton.

"This is all the banks can allocate and all the courts can process," he added. "It's still tough for a normal buyer to get one of these foreclosures."

There were 1,234 total foreclosure filings between Sarasota, Manatee and Charlotte counties in March. That was down 4 percent from February and 10.5 percent compared with the same time last year, according to data released Wednesday by RealtyTrac Inc.

Particularly volatile

The dip marks another undulation in what has become a volatile foreclosure rate, with monthly filings in each of the area's three counties seesawing back-and-forth since last fall.

"I don't know what it is about Sarasota, but the numbers there are definitely more volatile month-to-month than any other Florida market," said Daren Blomquist, a RealtyTrac vice president. "For most of the state, and in general, the trend has been foreclosures are going up."

Manatee is the only county in Southwest Florida in which new default filings have risen consistently. Some 550 total foreclosures were reported last month, up marginally from February and up 19 percent from March 2012.

In Sarasota, meanwhile, the 404 foreclosures in March represented a 22 percent drop from February and a 36 percent decrease from March 2012, records show.

Charlotte, with 280 total foreclosures in March, saw its filings hold relatively flat from a year ago.

Year started higher

Banks appeared to be ramping up their foreclosures filings again at the start of 2013 -- especially on older cases that had been stuck in local court backlogs. In all, roughly 15,000 cases have yet to be resolved. Some have lingered for as long as four years.

But the pause in March also indicates lenders are not getting too overzealous, Blomquist said.

An increased willingness by lenders to fast-track foreclosure alternatives, like short sales and deeds-in-lieu, also have helped reduce the numbers, he said.

Throughout the first-quarter, lenders in the three-county region processed 3,751 foreclosures, a 10 percent dip from the fourth-quarter of 2012 and a modest 1 percent decline from the same three months last year. Those totals include default notices, scheduled auctions and bank repossessions recorded by RealtyTrac.

Lis pendens, or early stage foreclosure filings, continue to make up the bulk of the overall totals. Those filings across Southwest Florida jumped 24 percent.

No slowing for state

Unlike the local data, foreclosure activity shows no signs of slowing across Florida, which continues to hold the title as the nation's foreclosure capital.

There were a total of 85,671 Sunshine State properties subject to foreclosure filings in the first quarter, the most of any state and nearly three times the national average.

Florida's foreclosure activity in the first quarter increased 7 percent from the final three months of 2012 and was up 17 percent from the initial quarter of last year, according to RealtyTrac.

Miami led the nation with the highest rate of defaults among metropolitan statistical areas with populations of 200,000 or more.

Six other Florida metro areas posted foreclosure rates that ranked among the nation's top 10, including Orlando at No. 2; Ocala at No. 3; Tampa at No. 5; Jacksonville at No. 7; Palm Bay-Melbourne-Titusville at No. 8; and Lakeland at No. 10.

Across the country, foreclosures were filed against 152,500 U.S. properties in March, a decrease of 1 percent from the previous month and a drop of 23 percent from a year ago.

Spikes in rate

From new legislation to docket backlogs and tighter laws regulating home mortgages, analysts say foreclosure trends are no longer a solid indicator of the health of the market.

"We have really seen them come in spurts," said Drew Peterson, a foreclosure specialist with Re/Max Alliance Group in Sarasota.

"The courts are so far behind, and I think that's a huge part of it. They work on a bunch at a time, move them out, and that's when you see them show up in the numbers. So, you will get a slow period, followed by a huge uptick."

<p>Foreclosure filings throughout Southwest Florida eased in the first quarter of this year, a sign lenders are being less aggressive in their rate of repossessions.</p><p>The lull in the first three months of 2013 comes after foreclosures regionwide rose last year, the result of mortgage delinquency cases that were refiled in the wake of a $25 billion settlement deal between banks and state governments.</p><p>Although an estimated number of potential foreclosures remains dangerously high, most analysts believe lenders now are intentionally holding back to ensure they do not flood the market with distressed properties -- a move that would cause prices to fall marketwide.</p><p>"We're seven years deep into this now, and the reality is this is all we can handle," said Marcus Vanzant, broker and owner of Marcus & Co. Realty, in Bradenton.</p><p>"This is all the banks can allocate and all the courts can process," he added. "It's still tough for a normal buyer to get one of these foreclosures."</p><p>There were 1,234 total foreclosure filings between Sarasota, Manatee and Charlotte counties in March. That was down 4 percent from February and 10.5 percent compared with the same time last year, according to data released Wednesday by RealtyTrac Inc.</p><p><b>Particularly volatile</p><p></b></p><p>The dip marks another undulation in what has become a volatile foreclosure rate, with monthly filings in each of the area's three counties seesawing back-and-forth since last fall.</p><p>"I don't know what it is about Sarasota, but the numbers there are definitely more volatile month-to-month than any other Florida market," said Daren Blomquist, a RealtyTrac vice president. "For most of the state, and in general, the trend has been foreclosures are going up."</p><p>Manatee is the only county in Southwest Florida in which new default filings have risen consistently. Some 550 total foreclosures were reported last month, up marginally from February and up 19 percent from March 2012.</p><p>In Sarasota, meanwhile, the 404 foreclosures in March represented a 22 percent drop from February and a 36 percent decrease from March 2012, records show.</p><p>Charlotte, with 280 total foreclosures in March, saw its filings hold relatively flat from a year ago.</p><p><b>Year started higher</p><p></b></p><p>Banks appeared to be ramping up their foreclosures filings again at the start of 2013 -- especially on older cases that had been stuck in local court backlogs. In all, roughly 15,000 cases have yet to be resolved. Some have lingered for as long as four years.</p><p>But the pause in March also indicates lenders are not getting too overzealous, Blomquist said.</p><p>An increased willingness by lenders to fast-track foreclosure alternatives, like short sales and deeds-in-lieu, also have helped reduce the numbers, he said.</p><p>Throughout the first-quarter, lenders in the three-county region processed 3,751 foreclosures, a 10 percent dip from the fourth-quarter of 2012 and a modest 1 percent decline from the same three months last year. Those totals include default notices, scheduled auctions and bank repossessions recorded by RealtyTrac.</p><p>Lis pendens, or early stage foreclosure filings, continue to make up the bulk of the overall totals. Those filings across Southwest Florida jumped 24 percent.</p><p><b>No slowing for state</p><p></b></p><p>Unlike the local data, foreclosure activity shows no signs of slowing across Florida, which continues to hold the title as the nation's foreclosure capital.</p><p>There were a total of 85,671 Sunshine State properties subject to foreclosure filings in the first quarter, the most of any state and nearly three times the national average.</p><p>Florida's foreclosure activity in the first quarter increased 7 percent from the final three months of 2012 and was up 17 percent from the initial quarter of last year, according to RealtyTrac.</p><p>Miami led the nation with the highest rate of defaults among metropolitan statistical areas with populations of 200,000 or more.</p><p>Six other Florida metro areas posted foreclosure rates that ranked among the nation's top 10, including Orlando at No. 2; Ocala at No. 3; Tampa at No. 5; Jacksonville at No. 7; Palm Bay-Melbourne-Titusville at No. 8; and Lakeland at No. 10.</p><p>Across the country, foreclosures were filed against 152,500 U.S. properties in March, a decrease of 1 percent from the previous month and a drop of 23 percent from a year ago.</p><p><b>Spikes in rate</p><p></b></p><p>From new legislation to docket backlogs and tighter laws regulating home mortgages, analysts say foreclosure trends are no longer a solid indicator of the health of the market.</p><p>"We have really seen them come in spurts," said Drew Peterson, a foreclosure specialist with Re/Max Alliance Group in Sarasota.</p><p>"The courts are so far behind, and I think that's a huge part of it. They work on a bunch at a time, move them out, and that's when you see them show up in the numbers. So, you will get a slow period, followed by a huge uptick."</p>